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Introduction to ANZ Mortgage rates
If you’re considering a home loan in New Zealand, then ANZ Bank New Zealand (ANZ) is likely on your radar. As one of the largest banks in the country, ANZ’s mortgage rates—both fixed and variable—often set a benchmark for borrowers deciding whether to lock in, float, or split their home loans. But in 2025, with shifting economic conditions, interest rate volatility and different borrower needs, choosing the right ANZ mortgage requires more care than ever.
In this article, we walk you through the latest ANZ mortgage rate offerings, what drives them, how they compare to alternatives, and concrete examples to help you decide what type of mortgage suits your situation best. We also highlight strategies — such as mixing fixed and floating portions — that many Kiwi homeowners use to balance certainty and flexibility. The goal here is simple: give you actionable insight, cut through marketing fluff, and help you make an informed home-loan decision.
What are ANZ’s current mortgage rates?
Snapshot of recent ANZ rates
As of late 2025, ANZ’s publicly advertised mortgage rates provide several fixed-rate and floating options.
Here’s a breakdown:
| Product / Term | Special (if eligible) | Standard / Floating |
|---|---|---|
| 6-month fixed | — | 5.39% p.a. |
| 1-year fixed | 4.49% p.a. | 5.09% p.a. |
| 18-month fixed | 4.49% p.a. | 5.09% p.a. |
| 2-year fixed | 4.49% p.a. | 5.09% p.a. |
| 3-year fixed | 4.79% p.a.* | 5.39% p.a. |
| Floating / variable | — | ~ 5.69% p.a. (commonly cited) |
*Special fixed rates generally require a minimum of 20% equity (deposit), plus an ANZ transaction account with salary direct-credited.
ANZ Fixed Mortgage Rates Trend (2021–2025)
What “special rate” means — and who qualifies
ANZ’s special (lower) fixed rates are only available if you meet certain conditions, typically:
- You have at least 20% equity (i.e. a 20% deposit or more).
- You hold an ANZ transaction account with salary directly credited into it.
- The offer may not stack with other package discounts or home-loan perks.
If you don’t satisfy those conditions, you’ll likely end up on the “standard” rate — which is higher, sometimes by several tenths of a percentage point. That difference, over a 25–30 year mortgage term, can have a big impact on total interest costs.
Broader context: why rates have shifted
Part of what influences ANZ’s mortgage rates is the prevailing interest-rate environment set by the Reserve Bank of New Zealand (RBNZ) via the Official Cash Rate (OCR).
Lower OCR and softer wholesale borrowing costs generally translate to lower bank mortgage rates. That’s exactly what ANZ has passed on with its sub-5 % fixed deals — a noticeable shift from the higher rates of just a few years ago.
Why different borrowers might want different ANZ mortgage types
Not all mortgages are equal — and “best” depends a lot on your financial goals, risk tolerance, and future plans. Here’s how different ANZ offerings stack up, and when they might make sense.
Fixed-rate mortgages: certainty and budgeting
If you value predictability — say you’re buying your first home, on a tight weekly budget, or expecting stable income — a fixed-rate mortgage from ANZ could be a strong bet. The main advantages:
- Your repayments are locked in for the fixed period: no surprises if interest rates rise.
- Makes budgeting easier — good for households where every dollar counts.
- You can choose term lengths that match your comfort level: 1 year, 2 years, 3 years, etc. Helps future-proof against uncertainty.
Practical example:
Suppose you borrow NZ$600,000 for 25 years. At 4.49% fixed, your repayments will be lower and stable over the fixed term — giving breathing room if rates were to rise again.
Meanwhile, if you opted for the standard 5.09% fixed rate (because you don’t meet deposit or salary-credit criteria), your payments will be noticeably higher — underlining how important eligibility can be.
Fixed vs Floating Monthly Repayment Comparison
Floating / variable / flexible mortgage: flexibility and optionality
A floating or flexible mortgage gives you more breathing room. That might work well if:
- You expect to make lump-sum repayments (e.g. from bonuses, gifts, or fluctuating income).
- You want the ability to redraw, or treat your home loan like a revolving account.
- You value flexibility over certainty — perhaps you plan to sell or refinance soon.
That said: floating rates tend to be higher, and repayments can change over time. At ~5.69% floating for ANZ as of now, your repayments are higher than the best fixed-rate deals.
Practical example:
If you earn seasonal or variable income (e.g. you work in contracting or commission-based sales), a floating or flexible loan might work better. It avoids the risk of overcommitting with fixed repayments that might be hard to sustain in lean periods.
Should you refix, stay floating, or split?
Most experienced borrowers agree: don’t view your mortgage as a one-time decision. Your circumstances and interest-rate outlook will shift over time. That’s why many Kiwis choose a split loan — part fixed, part floating — or refix (lock in a new rate) when a fixed term ends.
Why splitting makes sense
- Locks in part of your loan at a lower rate, giving stability.
- Keeps some portion floating/flexible for repayment surges or redraw needs.
- Reduces risk: if interest rates climb, at least part of your loan is insulated; if rates drop, you still benefit on the floating portion.
Using ANZ’s system, you could fix 50% of your loan at 4.49% (special 2-year fixed) and leave 50% floating — blending certainty and flexibility.
When to consider refixing
- Your fixed term is nearing its end. ANZ allows you to refix up to 60 days before maturity.
- Market rates look favourable (e.g. if RBNZ signals more OCR cuts).
- Your personal finances are steady, and you want predictability for the next few years.
When to stay floating or flexible
- You anticipate large lump sum payments.
- You expect to down-size, sell, or refinance within a few years.
- Your income is irregular or fluctuating.
How ANZ stacks up in the broader NZ mortgage market
Competitors and context
According to one recent overview, top fixed-rate home loans among NZ’s major banks (for example 1-year fixed) sit near 4.49%.
That means ANZ is currently competitive — though it may not always be the cheapest, depending on your deposit size and eligibility for specials. Smaller lenders or niche credit-unions sometimes advertise slightly lower rates, but they may lack the broad support or brand strength of a large bank like ANZ.
Reliability and support
One advantage of going with ANZ is stability and support: they offer a wide range of home-loan options (fixed, floating, flexible), calculators, refinancing/refixing tools, and guidance via Home Loan Coaches.
For example, if your fixed term ends, you can easily refix online through ANZ’s goMoney app, or by calling a coach.
For many borrowers — especially those uncomfortable with market-rate swings or those who value convenience — that reliability is a real advantage.
What to watch out for: risks and caveats
- Special rates aren’t guaranteed. You must meet deposit and bank-account criteria. If your deposit is < 20%, you’ll likely pay a higher standard rate.
- Floating rates can change: If the economy or inflation shifts unexpectedly, repayments can increase — sometimes significantly.
- Fixed-rate terms eventually end. If you’re not ready, you may roll onto a floating rate or need to re-fix — which may carry a different rate.
- Extra fees and conditions apply. There may be establishment fees, minimum repayments, and penalties for early repayment or non-compliance with promotional conditions. ANZ Bank+1
Finally: the “cheapest advertised rate” isn’t always the cheapest for you. Your deposit size, income stability, property type and loan size all affect your actual rate.
Example scenarios: choosing the right ANZ mortgage for different Kiwi households
Scenario 1: First-home buyer on a stable income
- Borrowing NZ$550,000
- 20% deposit saved
- Regular full-time salary (no volatility)
- Plan to stay in this home for 5–10 years
Recommended: 2-year (or 1-year) fixed at 4.49% (special), or 50/50 split (half fixed, half floating) if some flexibility is desired.
Why: Low rate + certainty for budget + ability to re-evaluate after fixed term ends.
Scenario 2: Self-employed or variable income, expecting bonus/lump-sum payments
- Borrowing NZ$650,000
- 15% deposit (so may not qualify for special fixed rate)
- Income fluctuates seasonally
Recommended: Floating or flexible mortgage — use extra repayments when income allows; treat loan like a revolving account.
Why: Avoid committing to high fixed repayments; benefit from flexibility to make extra payments or redraw.
Scenario 3: Investor or planning renovation/new build
- Borrowing NZ$800,000
- Want to build or renovate in next 2–3 years
Recommended: Mix loan types. Use fixed rate for base home loan; keep a flexible or floating portion for renovation top-up or unexpected costs.
Why: Fixed portion gives stability; flexible portion accommodates renovation draws and variable cash flow.
Key questions many borrowers ask — answered
Is now a good time to fix, given economic conditions?
Given the current low fixed rates and likely stability in the near term (thanks to supportive monetary-policy outlook and competitive offers), locking in a fixed rate could provide meaningful security — especially if you predict your income or expenses might rise.
Do I always need 20% deposit to get the best rate?
For ANZ’s “special” fixed rates, typically yes. Without that deposit level, you’ll likely pay the standard rate. However, floating or flexible options remain available regardless of deposit size.
What happens when my fixed term ends?
You can refix (lock in a new rate) up to 60 days before maturity via ANZ’s online banking or by contacting a Home Loan Coach. If you don’t refix, your loan may revert to the floating rate — so be prepared.
Can I make extra repayments?
Yes — under fixed-rate loans you can increase regular repayments (to a limit) and make annual lump-sum repayments up to a percentage of the loan amount. ANZ Bank Flexible/floating loans typically allow extra repayments and redraws, though terms vary.
NZ Borrowers: Preferred Mortgage Structures
Summary — quick reference
| Situation / Borrower | What ANZ Mortgage Type Makes Sense | Why |
|---|---|---|
| Stable income, long-term owner-occupied home | Fixed (1-2 years or more, eligible for special) | Certainty, lower rate, easier budgeting |
| Variable/seasonal income or expecting lump sums | Floating or Flexible | Flexibility to make lump-sum repayments or redraw |
| Mixed needs (long-term stability + occasional cash flow) | Split loan (fixed + floating/flexible) | Balance of certainty and flexibility |
| Renovation / top-up / new-build loan | Fixed for main loan + flexible for top-up | Stable base loan, flexible borrowing for fluctuations |
Final thoughts
ANZ’s mortgage rates as of late 2025 are among the more competitive options available to home-buyers and investors in New Zealand — especially if you qualify for their “special” fixed rates. But as with any major financial decision, the headline rate isn’t everything. Your deposit size, income stability, future plans and risk tolerance should all inform whether you fix, float, or split your loan.
For many borrowers, a split approach — combining fixed and floating/flexible portions — offers the best of both worlds: stability where you need it, and flexibility where you might need breathing room. If your fixed term ends soon or your financial situation changes, it’s worth revisiting your mortgage structure — and possibly refixing or rebalancing.
In short: it’s not just about chasing the lowest rate. It’s about aligning your mortgage with your real life, future plans, and financial comfort zone.
Related internal links
ANZ Home Loan Rate 2025 Overview
Home Loan Basics — Fixed vs Floating
FAQ
What is the current special 1-year fixed mortgage rate at ANZ?
As of now, ANZ advertises a 1-year fixed rate special of 4.49% p.a., provided you meet eligibility criteria (20% deposit, ANZ transaction account with salary direct-credited).
What deposit do I need to qualify for ANZ’s lowest fixed rates?
Typically you need at least 20% equity (i.e. 20% deposit) and an ANZ transaction account with direct salary credits.
Can I change my repayments under a fixed rate loan if I want to pay off faster?
Yes — ANZ allows you to increase regular repayments (up to a limit) and make annual lump-sum repayments without penalty under a fixed-rate loan.
What happens when my fixed term ends?
You can choose to refix (lock in another fixed rate) via ANZ online or contact a Home Loan Coach — up to 60 days before maturity. If you don’t refix, the loan may roll onto the floating rate.
When might a floating or flexible mortgage make more sense than a fixed rate?
If your income is irregular or you anticipate lump-sum payments (e.g. bonuses), or if you want the ability to redraw or make extra repayments at short notice. Floating/flexible gives more cash-flow flexibility.
Is ANZ among the cheapest lenders in NZ right now?
With their special fixed rates, ANZ is competitive — but cheapest depends on your circumstances. Smaller lenders or credit unions may offer slightly lower rates especially for borrowers who don’t meet ANZ’s deposit or account criteria.
Can I split my loan — part fixed, part floating?
Yes. ANZ supports mixed mortgages, allowing you to fix part of the loan for certainty, and keep another part floating or flexible for liquidity and repayment flexibility.
If I don’t have 20% deposit, am I locked out of ANZ loans?
No — you can still borrow, but likely at the standard (higher) rate rather than the special discounted fixed rate. Floating/flexible loans remain available.
What are the major risks of a floating mortgage with ANZ?
Interest rates can rise, increasing your repayments. Also, unlike fixed repayment amounts, your budget may need to absorb fluctuations — which can be hard if you rely on stable cash flows.
How often does ANZ change its mortgage rates?
Rates are subject to change whenever market / wholesale borrowing costs shift, or when the RBNZ adjusts the Official Cash Rate (OCR). Special rates and standard rates may change at different times, and promotional rates can expire.
